Kawasaki Kisen Kaisha, Ltd. (“K” Line) announces that Moody’s has downgraded the
issuer rating of the company from “Ba2” to “Ba3”, effective from May 6, 2016.
Although we have continued constructive discussions with Moody’s based on a
cyclical nature of shipping industry, it was regretful that downgrade implementation
has been taken. Based on nonnecessity of continuous rating obtainment from business
(operation) perspective, today, we have withdrawn issuer rating from Moody’s.
Nevertheless, we will continue to keep our ratings from Japan Credit Rating Agency,
Ltd and Rating and Investment Information, Inc.